ETH Outpaces SOL by 1,300 bps Over 30 Days — A Rare Inversion of the High-Beta L1 Narrative
Ethereum (ETH) has returned +9.98% over the last 30 days while Solana (SOL) has returned -3.02% — a spread of 1,300 basis points. This inverts the prevailing narrative of SOL as the higher-beta, faster-growing L1, and represents a widening of the SOL/BTC divergence (previously 970 bps in the Apr 16 edition) into a new ETH/SOL cross-pair signal.
Supporting 6 queries
To surface this insight, Baselight ran 6 queries across its structured data. Each one is reproducible — open it, read the SQL, and rerun it yourself.
Conclusion
ETH 30d return = +9.98% ($2,202.74 → $2,351.35); SOL 30d return = -3.02% ($90.04 → $86.20); spread = 1,300 bps; ETH 90d high = $3,283, pct from high = -28.4%; SOL 90d high = $137.87, pct from high = -37.5% (SOL has a 9.1pp deeper drawdown from 90d peak); BTC 30d = +8.31%, meaning ETH now tracks BTC more closely than SOL does. Prior Apr 16 edition covered SOL vs BTC (970 bps); this is the ETH vs SOL pair — distinct, wider, and inverted.